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Brexit Pros and Cons. What happens now?

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  • Brexit Pros and Cons. What happens now?

    Britain has voted Brexit. So what does this mean?

    Pros: Britain not having to pay into the EU budget, Sovereignty or having control over all of Britain's affairs without having outside input from the EU, Immigration strains will plummet with Britain not being the center of financial power in the EU, and possibly increase security due to tighter immigration restrictions.

    Cons: Trade agreements have to be redone which results in an immediate decrease of trade initially, job opportunities lost for British workers in the EU, and possibly decreased security from not having a EU "security blanket" (ie: increased cooperation between EU countries).


    As an American I can say I am only affected by this distantly in regards to the world economy situation after the Brexit, but I would love to hear what a person from the UK or EU thinks about the situation. Also if a Scotsman(woman) can explain the Scotland situation that would clear up a lot.


  • #2
    I'm an American also and I think it is kind of sad because of how many people who voted said they only did it to be heard by their Parliament because they were frustrated. It seems like none of them actually wanted out of EU. But I hope that this ends up working out for their benefit now that they are more free to trade with whoever. I think they are going to have a couple rough months before they will bounce back since they won't have a trade deficit anymore.
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    • #3
      We have started experiencing Brexit effects. Forex markets are not steady and many traders have complained to have made losses because of the unpredictable markets. Many agreements have been halted as governments don't know what will happen next. Some countries have avoided signing new agreements with Britain hence affecting it's economy. This has seen the value of the pound depreciating to the lowest in 30 years.
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      • #4
        Hi, I live in England and I voted Leave.

        The vote had caused big upheavals in the UK. I think it’s exposed what has been brewing for many years.

        1. Prime Minister Cameron has said he is resigning – to take effect from when a new Conservative Party leader is elected. That is now scheduled for September.

        2. He is not triggering article 50 to officially give notice to quite the EU. That will be for his successor. Under the EU treaties that starts a 2 year process of negotiations to determine the terms of the future relationship between the UK and the EU.

        3. As a result of his weak support for the official Labour Party line of pro-EU from Jeremy Corbyn (Labour Party leader), the majority of Labour MPs have resigned from the Shadow cabinet and are urging him to quite. At the moment he is refusing to go.

        4. Although the vote was a UK one, the results were given area by area. In Scotland every area voted Remain. Nicola Sturgeon (SNP leader) wants to use this to get another vote to leave the UK but wants to Remain in the EU. AT the moment the EU is saying no, you leave with the UK and then apply to join (assuming Scotland does get another vote, and votes to leave the UK).

        5. So we now have the Conservative Party in the midst of a struggle for the next leader. The Labour Party in the midst of trying to get rid of their leader and get another one. The EU wanting the UK to trigger article 50 immediately but the UK government saying not yet.

        6. A lot of Remain people are very upset and don’t want to accept the democratic decision of the majority and wanting another vote.

        Ask any questions you like and I'll try and give you a reasonably balanced answer.
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        • #5
          I live in Europe and I'm actually pretty worried about it. Economics are absolutely going to be aggravated by it, and it's going to be more complicated to travel there too. I think this was a bad decision by the people because it's not going to benefit anybody.
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          • #6
            Originally posted by mauricioq View Post
            I live in Europe and I'm actually pretty worried about it. Economics are absolutely going to be aggravated by it, and it's going to be more complicated to travel there too. I think this was a bad decision by the people because it's not going to benefit anybody.
            You may think that the losses ourweigh the gains but there are obvious benefits for the UK.

            1. We get to control our borders again and manage migration.

            2. We save billions that we pay to the EU, much of which is squandered.

            3. We get to make our own laws instead of having them imposed by an unelected bureaucracy.

            4. We can make our own trade deals with other countries, rather than have them made by an unelected bureaucracy to our disadvantage, and we can do it faster (they have been negotiating a trade deal with India for 10 years).

            5. We keep control of our own currency (yes I know we currently have an opt-out for the pound but that wouldn't last!).

            6. We have control of our VAT rates (or could even dump VAT and go for a sales tax).

            etc. etc.


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            • #7
              Honestly I think this is over-exaggerated. I don't think any of the doom and gloom scenarios will happen to Britain. The United Kingdom has more or less always adopted a contrarian attitude in regards to their foreign or economic policy. From World War II, to the Thatcher years and de-industrialization and how it kept out of the Euro and the Schengen area. This is just a continuation of this type of maverick-like attitude. Britain will land on its feet, no worries. The Brexit will even present opportunities of its own. Norway and Switzerland aren't doing bad, so maybe people should tone it down a little and worry less.
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              • #8
                Originally posted by CarlosTL View Post
                Honestly I think this is over-exaggerated. I don't think any of the doom and gloom scenarios will happen to Britain. The United Kingdom has more or less always adopted a contrarian attitude in regards to their foreign or economic policy. From World War II, to the Thatcher years and de-industrialization and how it kept out of the Euro and the Schengen area. This is just a continuation of this type of maverick-like attitude. Britain will land on its feet, no worries. The Brexit will even present opportunities of its own. Norway and Switzerland aren't doing bad, so maybe people should tone it down a little and worry less.
                I agree. There is a lot of hype being whipped up. Although the pound is down (good for exports anyway) the stock market has bounced back.
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                • #9
                  As someone not from the U.K. can someone explain to me why the Leave campaign was so desperately marked as "racist" by the Remainers and mainstream media who were overwhelmingly in favour of Remain? There are so many more pressing issues Leave voters cared about rather than just securing borders
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                  • #10
                    Originally posted by turnb43 View Post
                    As someone not from the U.K. can someone explain to me why the Leave campaign was so desperately marked as "racist" by the Remainers and mainstream media who were overwhelmingly in favour of Remain? There are so many more pressing issues Leave voters cared about rather than just securing borders
                    There was a lot of mud slinging, lies and half truths in the campaign by both sides. One of the big concerns was the level of immigration and I think the Remainers wanted to neutralise that by implying that anone that was concerned about migration was nasty. David Cameron had made a promise that he would cut net migration down to the "tens of thousands", a promise he could not possibly achieve whilst still in the EU. So throwing terms like "racist" around was a cover for that.

                    Incidentally I disagree that most of the media were in favour of Remain.
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                    • #11
                      The UK voters demonstrated great wisdom in voting to Leave as it will be much better for the UK in the long run, even if there is some short-term pain. The UK will have complete access to the EU markets through the WTO (World Trade Organization) so other than some minor tariffs and the loss of some reciprocal agreements, the only significant hit will be a potential loss of financial market influence. The UK does gain three important advantages in the long-run: the ability to make trade deals unilaterally with countries outside the EU such as the US, Japan, Australia, Canada, Mexico and so forth. Second, the UK will regain control of its sovereignty and borders allowing it to stem the flow of immigrants which is currently overwhelming their capacity and infrastructure as 500,000 or more emigrate to the UK each year. Third, the UK will save money from not having to support the dying economies in Southern Europe. The UK only got back 35 cents on the dollar while they were in the EU as large sums of money were transferred from Germany and the UK to prop up Greece, Italy and Portugal and now, free from this enormous expense, they money can not be spent for the benefit of the UK's citizens.
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                      • #12
                        Originally posted by turnb43 View Post
                        As someone not from the U.K. can someone explain to me why the Leave campaign was so desperately marked as "racist" by the Remainers and mainstream media who were overwhelmingly in favour of Remain? There are so many more pressing issues Leave voters cared about rather than just securing borders
                        Not sure about the "labeled as racists", but yes the leave viewpoint was not the approved position of the establishment (inside or outside UK, though they got less hostility inside the UK), and consequently did not get properly represented in the media.

                        The leave campaign was led by the UKIP, which has the reputation that it has. Almost all eurosceptics across Europe are right-wing parties that flirt with xenophobia. When you look at the vote it was split along age and class, and yes immigration (including intra-European immigration), and who pays for what and for whom abroad was at the center of the debate. These are some of the elements which may have led to the "leave" being labeled as xenophobic. But definitely from the viewpoint of some of the laymen, it was something along; "I don't want to pay for social security of immigrants/refugees the EU is forcing me to take and I don't want to pay taxes to subsidize poor peasants in (e.g.) Romania, and I am not comfortable with the idea of seeing waves of job hungry eastern Europeans settling here just because the EU laws permit such a thing".
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                        • #13
                          I know that the value of the euro has gone down. I'm worried as to how this will affect the world economy. I did hear, however, that it is only temporary so that is good. I'm still undecided on if I feel this was a good or bad decision on the part of Great Britain.
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                          • #14
                            I have to say that I was a bit surprised to see the British decide to leave the EU. I did come to learn that there were rumblings about this for some time and it was tossed around a lot in Britain, but I guess that is just me getting my one sided news. I just do not really pay all that much attention to international politics, as much as I thought I might have at least. It should be interesting to see what effects this has on the EU and the economies of nations affected.
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                            • #15
                              Originally posted by LydiaG75 View Post
                              I know that the value of the euro has gone down. I'm worried as to how this will affect the world economy. I did hear, however, that it is only temporary so that is good. I'm still undecided on if I feel this was a good or bad decision on the part of Great Britain.
                              I don't think anyone will truly know. The remain and leave crowd both give their opinions but ultimately this is something we haven't seen and so really will not know for quite some time until the implications from the result really start to come into play.
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